PEPE is currently trading at $0.053554, exhibiting compressed volatility within a tight intraday range between support at $0.053539 and resistance at $0.053705. This narrow band of only $0.000166 reflects limited directional conviction in the short term. Over the last 24 hours, PEPE's USD price declined by 3.1%, though it showed relative strength against major cryptocurrencies, gaining 0.5% against both Bitcoin (BTC) and Ethereum (ETH).
Technical indicators on the 1-hour timeframe suggest limited upside momentum. The Relative Strength Index (RSI) is near 40.30, while the Moving Average Convergence Divergence (MACD) histogram records slightly negative values, indicating a lack of strong bullish acceleration. The market remains positioned between key technical levels without decisive follow-through, with traders monitoring a break above $0.053705 for bullish momentum or a drop below $0.053539 to expose lower liquidity.
Despite the short-term consolidation, broader analysis points to a potential major breakout. Analyst STEPH IS CRYPTO highlighted a large falling wedge pattern on the weekly chart, with PEPE compressing between a descending resistance line and a rising support trendline. The token is currently trading near the pattern's lower boundary around $0.0000036. The analyst projects that a convincing breakout above the descending resistance could trigger a sharp price increase, with a potential upside target of approximately 860%, bringing PEPE back toward the $0.000030 region.
This bullish long-term projection contrasts with the current bearish momentum on the daily chart, which shows a pattern of lower highs and lower lows. The daily MACD shows a negative crossover, confirming bearish momentum, while the RSI near 37.25 suggests the token is approaching oversold conditions. The market outlook remains cautious, balancing short-term consolidation and bearish pressure against the technical potential for a significant trend reversal.
